Markets bullish with Nifty 50 above 17,650; Banking stocks drive

21 Oct 2022 , 02:00 PM

Domestic benchmark indices in a super rally today led by banking stocks outperforming. Both the Sensex and Nifty benchmarks were marginally higher amid Diwali season gleaming all over the market.

Further, investors’ sentiments can be swayed on fears of the impact of aggressive rate hikes from central banks on economic growth and corporate results.

On the sectoral front, metal, IT sectors were under selling pressure while banking stocks skyrocketed over 900 points to drive the market sentiments.

At around 2:00 PM, Sensex was trading at 59,567.80 higher by 364.9 points or 0.62%. Nifty 50 traded at 17,657.30 higher 93.35 points or 0.53%.
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Top Bulls on Nifty 50 are: Axis Bank (+8.25%), Kotak Bank (+2.98%), ONGC (+2.43%) supported by ICICI Bank (+2.27%) and Hindustan Unilever (+1.97%). Meanwhile, top losers on Nifty 50 are: Bajaj Finance (-2.54%), Adani Ports (-1.59%), Eicher Motors (-1.58%), ASian Paints (-1.43%) and Bajaj Finserv (-1.34%).

Meanwhile, on the occasion of Diwali on Monday, BSE and NSE will have a one-hour Muhurat trading session at 6:15 PM to 7:15 PM. The new Samvat 2079, begins on Diwali day, will start the year with the fortunate one-hour trading session.

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